Five countries collectively owe Pakistan more than $300 million, according to the latest audit report. The findings reveal that the Government of Pakistan has failed to recover $304.5 million from Sri Lanka, Bangladesh, Iraq, Sudan, and Guinea-Bissau.
These debts stem from export credit extended to the countries during the 1980s and 1990s. Converted into Pakistani rupees, the outstanding amount stands at over Rs86 billion.
Iraq tops the list of defaulters with a staggering $231.3 million owed, followed by Sudan with $46.6 million. Bangladesh is liable for $21.4 million linked to sugar plant and cement-related projects, while Guinea-Bissau owes $3.653 million.
The Auditor General first highlighted these recoveries back in 2006–07. Officials from the Ministry of Economic Affairs say recovery efforts are underway through the Foreign Office, using both diplomatic channels and joint ministerial committees.
Reminder letters and demand notices have been sent, but the funds remain unpaid. The Auditor General has recommended that the government raise the matter at the highest level to ensure repayment.
